(From AFX Europe (Focus))
JACKSONVILLE, Fla. (AFX) - A federal judge ruled Thursday that supermarket chain Winn-Dixie Stores Inc. has met the legal requirements to emerge from more than a year of bankruptcy protection, and the company plans to do so within 30 days.
U.S. Bankruptcy Judge Jerry Funk's decision came after creditors approved the plan last month. The Jacksonville-based company will emerge from Chapter 11 reorganization once it receives $725 million in exit financing from Wachovia Corp., issues new stock and installs its new board of directors.
"This is an exciting time for everyone at the company. We will continue to work hard to build …